Directorate Changes (9540D)
March 30 2011 - 12:00PM
UK Regulatory
TIDMFBH
RNS Number : 9540D
FBD Holdings PLC
30 March 2011
FBD Holdings plc
30 March 2011
Directorate Changes
FBD Holdings plc ("FBD" or the "Company") wishes to announce the
intended retirement dates of two of its longest serving
non-executive Directors, Mr. John Donnelly and Dr. Patrick
O'Keeffe.
During 2010, in recognition of the Board's commitment to
compliance with the Combined Code (and subsequently the UK
Corporate Governance Code) in every respect, the Nomination
Committee of the Board commenced a careful review of the Board's
composition and that of its Committees. This review was designed
with the intention that the composition of the Board, and its
Committees, ensures an appropriate mix of independence together
with the specific required skills and experience. While the Board
believes that it is the strength of character, integrity and
judgement of an individual Director which determines his or her
independence, it is also mindful that certain of its non-executive
Directors do not meet all of the indicators of independence set out
in the UK Corporate Governance Code.
Consequently, the Board has embarked on a programme of
refreshment to ensure that the Board will comprise a majority of
non-executive Directors who meet the independence criteria of the
UK Corporate Governance Code in every respect and who have the
appropriate range of skills and experience.
In order to advance the refreshment process, Mr. Donnelly and
Dr. O'Keeffe have informed the Company that they both intend to
retire from the Board at the close of the meeting of the Board
scheduled for 29 August 2011. The Nomination Committee has
commenced the process of identifying individuals with the
appropriate skills and experience for appointment to the Board in
the near future.
Commenting on the decisions of Mr. Donnelly and Dr. O'Keeffe,
Michael Berkery, Chairman, said:
"John Donnelly has been a non-executive Director of the Company
since 1988 and his passion for FBD, our shareholders and our
customers has never waned over this time. His input into the
deliberations of the Board and his in-depth knowledge and
understanding of our founding shareholders and key customers - the
farming community - have been of immense benefit.
It is not possible to overstate the enormous contribution which
Paddy O'Keeffe has made to the Board of FBD and to the development
of the Group since its foundation. His vision, energy and
entrepreneurial spirit are as evident today as they were when he
played such a key role in the foundation of FBD. The Company and
the Board are very grateful to him for his distinguished service
over this time.
Both John and Paddy are recommended by the Board for re-election
at the Annual General Meeting scheduled for 29 April 2011. They
will leave the Board on 29 August 2011 with our very best wishes
for the future."
For Enquiries
FBD
Conor Gouldson, Company Secretary +353 1 409 3208
Murray Consultants
Joe Murray and Joe Heron +353 1 498 0300
FBD Holdings plc FBD House, Bluebell, Dublin 12, Ireland
Registered in Dublin, Ireland Registered Number 135882
This information is provided by RNS
The company news service from the London Stock Exchange
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